Trump Tax Returns
- Thread starter Catskillkid
- Start date
Obviously, I don't think he has a giant stack of cash just sitting there. What assets have an arbitrary value? Things can have a range of values (IE. a building could be appraised at a certain value but actual sale prices can vary a bit) but most things don't have a completely random value anyone can claim.
pjzwtl
.308 Win
Like the Russian bs, the bs impeachment this to is nothing. The left sure are getting desperate
spat
.950 JDJ
Most of his assets will have an arbitrary value not an intrinsic value.
His real estate has real value.
Stocks on the other hand are entirely virtual. Merely entries in a ledger that only have value because everyone involved agrees they do.
In the article I listed above where Bezos lost 7 Billion overnight, where did it go ?
It just evaporated into the nothingness it was created from. Suddenly the entire world collectively agreed that he was worth 7 billion dollars less than he was the night before. But there was no physical change in any real assets. No disaster destroyed a building, no property ceased to be useful, nothing that's real changed, just some entries in a ledger.
repete
.338 Win Mag
Is that your confession?
repete
.338 Win Mag
If he's so broke then why would he give away his $400,000 salary every year for the past 3 and a half years, answer that one Mr. jealous.
Celt
.450/400 Nitro Ex
There's help available man, dont be embarrassed as there are many people suffering from TDS.
pjzwtl
.308 Win
Yes and no. Stocks still have a value attached to real property. Owning a stock is more or less owning a percentage of the company and all of its assets (physical, intellectual, etc.). While it's not like having a tangible asset, such as an 18 wheeler on your lot and in your direct possession, it's similar to the deed of that 18 wheeler that shows you own it and can sell or transfer it to another entity for an agreed upon price.
Physical assets can fluctuate in value as well. Take a look at Ammo prices. The stuff I have is worth a LOT more than it was 6 months ago. If you buy a bunch now, it's entirely possible that in a year it will be worth a lot less. Not saying ammo is an investment, but just that physical goods can also swing in price a lot too. The more stock you own the easier it is to have larger swings in raw value. Bezos owns a lot of Amazon stock, so a swing in value up or down is going to be a large loss or gain in terms of raw value.
I differentiate this with Trump though, Trump consistently lost money in the day to day operations of his businesses. Casinos. Hotels. Airlines. Etc. This is very different from fluctuating stock values. Where Trump did make a lot of money was on, 'the apprentice'. While I personally though the show was dumb, like most "reality" TV, there certainly was a market for it and he capitalized on it. That was a really strong move on his part for sure.
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Trump University - Wikipedia
en.wikipedia.org
Yes, Trump University Was a Massive Scam | National Review
Many people believe that higher education is a de facto scam. Trump University, Donald Trump’s real-estate institution, was a de jure one. First thing first, Trump University was never a university…
www.nationalreview.com
Trump University (also known as the Trump Wealth Institute and Trump Entrepreneur Initiative LLC) was an American company that ran a real estate training program from 2005 until 2010. It was owned and operated by The Trump Organization. A separate organization, Trump Institute, was licensed by Trump University but not owned by The Trump Organization. In 2011, amid multiple investigations, lawsuits and student complaints, it ceased operations. It was founded by Donald Trump and his associates, Michael Sexton and Jonathan Spitalny, in 2004. The company offered courses in real estate, asset management, entrepreneurship, and wealth creation.
The organization was not an accredited university or college. It conducted three- and five-day seminars (often labeled "retreats") and used high-pressure tactics to sell these to its customers. It did not confer college credit, grant degrees, or grade its students. In 2011, the company became the subject of an inquiry by the New York Attorney General's office for illegal business practices which resulted in a lawsuit filed in August 2013. An article in the National Review described the organization as a "massive scam".
The National Review is published by conservatives.
At one seminar, attendees were told they’d get to have their picture taken with Trump. Instead, they ended up getting snapped with his cardboard cutout.”
Meanwhile, if there is any doubt that Trump U was designed to be a scam, The Atlantic puts that to rest with a few other choice tidbits from that “Private & Confidential” playbook used by Trump presenters:
Every university has admission standards and Trump University was no exception. The playbook spells out the one essential qualification in caps: “ALL PAYMENTS MUST BE RECEIVED IN FULL.” Basically, anyone with a valid credit card was “admitted” to Trump University. . . .
If a member of the media happened to approach the registration table, Trump staffers were instructed not to talk to him or her under any circumstance. “Reporters are rarely on your side and they are not sympathetic,” the playbook advises.
And:
At one point, the playbook advises Trump staffers: “If a district attorney arrives on the scene, contact the appropriate media spokesperson immediately.”
Sounds legit.
MikeM
.44 mag
Just yesterday I had to explain to a stock broker how a joint client losses 2-300,000 a year yet amassed a 28 million portfolio. Part is from depreciation as others said above and also, most people don't understand real estate. You buy an apartment building for 3,,000,000 and you collect rent of 100000 per year. Real estate taxes are 40,000 and utilities are 15,000 to make it simple, no other expenses or income to operate the building. So you collect 100,000 and pay 55,000 leaves you with 45,000 in your pocket. On your tax return you report 100k less 55k and a cash profit of 45k but you are allowed depreciation which on 3,000,000 would be $110,000 per year for 27 years. you deduct this from your 35k profit and show a tax loss of $65. Wish i was broke like that.
Now for the real lesson. you have the building for 5-6 years and its now worth 5,000,000. you refinance it and take out a 4,000,000 mortgage and put the 4 mil in your pocket. You get to keep that money, buy a Yacht, Rolls Royce, Mansion, etc. The 4 mil is tax free and you only pay tax on it when you sell the building. Now the beauty is 5 more years go by and its worth 8 mil. You refi again for 7 mil, and buy a bigger yacht and rolls.
Now for the real lesson. you have the building for 5-6 years and its now worth 5,000,000. you refinance it and take out a 4,000,000 mortgage and put the 4 mil in your pocket. You get to keep that money, buy a Yacht, Rolls Royce, Mansion, etc. The 4 mil is tax free and you only pay tax on it when you sell the building. Now the beauty is 5 more years go by and its worth 8 mil. You refi again for 7 mil, and buy a bigger yacht and rolls.
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1075tech
.338 Win Mag
All this sounds to me like some people are mad that he used the rules others created to play the game and apparently was good at it.
Rules Sleepy Joe created and did nothing to change for 47 years.
So, I will admit, I am a huge supporter of Mr. Trump...
There is not much he could do to sway my vote or my support. Cannot really think of anything at this point.
As for these taxes or lack thereof, I do not care how much he paid or how little he paid.
When my taxes are done in March, year after year, there is not much I will not do to lower the amount of taxes that I pay. I, or rather my accountant looks for each and everything possible. When he is done, prior to submitting, I look for more write offs that I can claim. I spend many hours looking to decrease my Federal taxes. Any and all should be doing the same, if you do not, you are indeed an idiot.
There is not much he could do to sway my vote or my support. Cannot really think of anything at this point.
As for these taxes or lack thereof, I do not care how much he paid or how little he paid.
When my taxes are done in March, year after year, there is not much I will not do to lower the amount of taxes that I pay. I, or rather my accountant looks for each and everything possible. When he is done, prior to submitting, I look for more write offs that I can claim. I spend many hours looking to decrease my Federal taxes. Any and all should be doing the same, if you do not, you are indeed an idiot.
Jmac00
.475 A&M Magnum
Kathie B Salera
FACT CHECK: The claim that Trump paid only $750 in Federal taxes in 2016 and 2017 is a complete and total lie which is easily disproven by the Times own story.
If you actually read the NYT closely, You’ll see Trump PAID, as in transferred to the US Treasury, $1 million in 2016 and $4.2 million in 2017. Note also that most of the overpayment was rolled forward, not refunded. The $750 figure is an ADDITIONAL $750. Thus every single story saying he paid $750 is a lie.
I am now 99% sure Trump leaked his own tax returns as a trap to not only expose the weaponized IRS, but also set up the corrupt politicians.
Now that Trump revealed his taxes, let's look at Biden's, Nancy's & Maxine's taxes. How did they become multi-millionaires on government salaries, & what taxes, if any, did they pay??
FACT CHECK: The claim that Trump paid only $750 in Federal taxes in 2016 and 2017 is a complete and total lie which is easily disproven by the Times own story.
If you actually read the NYT closely, You’ll see Trump PAID, as in transferred to the US Treasury, $1 million in 2016 and $4.2 million in 2017. Note also that most of the overpayment was rolled forward, not refunded. The $750 figure is an ADDITIONAL $750. Thus every single story saying he paid $750 is a lie.
I am now 99% sure Trump leaked his own tax returns as a trap to not only expose the weaponized IRS, but also set up the corrupt politicians.
Now that Trump revealed his taxes, let's look at Biden's, Nancy's & Maxine's taxes. How did they become multi-millionaires on government salaries, & what taxes, if any, did they pay??
Jmac00
.475 A&M Magnum
Walt Disney filed chapter 11, THREE TIMES, he was a good business man, but he failed a few times. But, he always recovered. so it turns out you can lose a lot of money, and still be a good business man
If i were President trump, I would NOT RELEASE any of my taxes, just to piss off nosey people like you
Jmac00
.475 A&M Magnum
Attachments
Jmac00
.475 A&M Magnum
Jmac00
.475 A&M Magnum
BTW: anyone notice that the Biden Ad on Trumps taxes (Comparing trumps taxes to 'normal citizens) has come out within 48 hours of the NYT story breaking??
A few problems with that. He is under audit and his legal counsel has advised him not to which is a standard practice.
It also shows that he gave in and sets a bad precedent.
Also even if he did the fake news and never Trumpers would not believe it. They would say it’s fake.
He won’t win any new voters. People who will vote for him will and people that won’t won’t. Nobody’s mind is going to change.
The last time MSDNC went live to air with breaking news of a tax return they got on Trump it revealed he pays a higher percentage than Barry O and Hillary did. When they realized this they buried it and never brought it up again.
spat
.950 JDJ
Yea, it does sound legit.Trump University - Wikipedia
Yes, Trump University Was a Massive Scam | National Review
Many people believe that higher education is a de facto scam. Trump University, Donald Trump’s real-estate institution, was a de jure one. First thing first, Trump University was never a university…Trump University (also known as the Trump Wealth Institute and Trump Entrepreneur Initiative LLC) was an American company that ran a real estate training program from 2005 until 2010. It was owned and operated by The Trump Organization. A separate organization, Trump Institute, was licensed by Trump University but not owned by The Trump Organization. In 2011, amid multiple investigations, lawsuits and student complaints, it ceased operations. It was founded by Donald Trump and his associates, Michael Sexton and Jonathan Spitalny, in 2004. The company offered courses in real estate, asset management, entrepreneurship, and wealth creation.The organization was not an accredited university or college. It conducted three- and five-day seminars (often labeled "retreats") and used high-pressure tactics to sell these to its customers. It did not confer college credit, grant degrees, or grade its students. In 2011, the company became the subject of an inquiry by the New York Attorney General's office for illegal business practices which resulted in a lawsuit filed in August 2013. An article in the National Review described the organization as a "massive scam".
The National Review is published by conservatives.
At one seminar, attendees were told they’d get to have their picture taken with Trump. Instead, they ended up getting snapped with his cardboard cutout.”
View attachment 89528
Meanwhile, if there is any doubt that Trump U was designed to be a scam, The Atlantic puts that to rest with a few other choice tidbits from that “Private & Confidential” playbook used by Trump presenters:
Every university has admission standards and Trump University was no exception. The playbook spells out the one essential qualification in caps: “ALL PAYMENTS MUST BE RECEIVED IN FULL.” Basically, anyone with a valid credit card was “admitted” to Trump University. . . .If a member of the media happened to approach the registration table, Trump staffers were instructed not to talk to him or her under any circumstance. “Reporters are rarely on your side and they are not sympathetic,” the playbook advises.And:At one point, the playbook advises Trump staffers: “If a district attorney arrives on the scene, contact the appropriate media spokesperson immediately.”
Sounds legit.
Were they promising degrees, or just education ?
There are a lot of non degree granting institutions out there that offer legitimate educational opportunities.
Just about every large business you care to name has similar policies for their employees about talking to the media or DA. Those are hardly out of the ordinary.
How many of the students were crippled with massive debt in exchange for a degree in a useless field like feminist dance theory ? Maybe the real scammers are the other colleges.
Education Law §224(1)(a) and 8 NYCRR §3.29: Use of the terms “college” and “university” are generally restricted to institutions chartered by the BOR or the Legislature. The Commissioner may consent to the use of the terms for for-profit institutions provided certain requirements are met.
Trump was operating Trump University in NY. In NY it is illegal to call your institution a university unless it meets specific guidelines, which DOES need to include offering accredited degrees. IE. You can't advertise yourself as a university unless you offer accredited degrees (which is part of being chartered). He also did not have consent from the SED commissioner.
Trump falsely ran a university that did not meet legal requirements to be a university in the jurisdiction he was running said university. Pretty clear cut case of defrauding the consumer, which is not surprising for a man of his low moral character.